Deutsche Bank rejects bailout money

Deutsche Bank is trying to do what no other major bank has done thus far: Say no to government funds. The bank has rejected funds from a 500 billion euro bank bailout package approved by the German government in October. The bank obviously wants to avoid the Faustian restrictions imposed on banks by governments. It notes that it is profitable, and often mentions itself in the same breath as JPMorgan Chase and Goldman Sachs. Bank executives also note that it holds a relatively small portfolio of toxic assets that have proved so disastrous at other banks. But to some, it is only a matter of time. And while stock has been pounded, it hasn't been hit nearly as hard as other, more troubled banks. Deutsche Bank executives remain convinced that they can steer through the crisis by shrinking its balance sheet while assuring shareholders and politicians that all is well, reports the New York Times.  

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